Everyone I know is always asking me where I generate my real estate leads from. So, first I always have to ask them what type of lead do they want to know about? Often I pull many different types of leads such as, REOS (bank owned), Foreclosures/NOD (notice of default), FSBO (for sale by owner), Vacant houses, and some we will not cover today: For rents, Lease Options, Ugly Houses, Pretty Houses, etc.
As you can see… there are MANY different kinds of leads you can look for! It just depends on your niche as a real estate Investor is.
Let us go through briefly what the best techy resource is for each niche starting with REOS
Lender owned property is often referred to as REOS (not REO Speed Wagon), in the real estate investment world. REOS, though not as common as they used to be in the Los Angeles market, are still found! Why would you want to buy REOS? Often times banks have many houses on their books and need to get them off! They will often settle on a sales price much lower than market value so they no longer own the property and can get liquid. Since the banks are desperate to offload it makes a great deal for you as the buyer. Where can you find these REOS?
REOS are often found at auctions, while driving for dollars, or through bank Real Estate Agents.
Next on our list is Foreclosures/NODs. Everyone in the real estate world knows about 2008…. We all have seen the Big Short, and if you haven’t, watch it! In 2008 the market collapsed causing thousands of fore closures. In today’s market we are seeing foreclosures dry up, but they will never be gone.
My favorite place to find Foreclosures is, countyrecordsresearch . I use county records religiously, but you do have other options which include: Foreclosure Listings, Homes for Sale, Real Estate Records, Foreclosure.com | Foreclosures | Foreclosure Listings, PropertyRadar.
For Sale by Owners, FSBO is a very self-explanatory niche. Look for houses that the owners are selling themselves because they DO NOT want to pay commissions. These are often prime leads, and it is easier to negotiate with them since they are not working through a realtor. You may even be able to haggle down some prices since they do not need to pay commission fees. Some FSBO resources here are,
The websites mentioned above have FSBO leads but some are a little more extensive, Duncan Wierman’s does a lot of investor tech marketing, and is also a website lead scraper (one of my personal favorites especially for craigslist add scraping). Zillow and Trulia make the list since they both have FSBO search filters. I often find solid leads off of Zillow especially:
I would like to note, even with all of these lead websites I only use a couple. My personal Primary resources are: Duncanwierman, findmotivatedsellersnow, and Zillow. I do just fine with those 3! All it takes is some time, and patience. If you have any questions, or want to know what to do once you start using one of these resource you can contact me anytime!